Investors May React Emotionally to Corporate Responsibility

January 21, 2014

Research Fact : 
Investors May React Emotionally to Corporate Responsibility
The experiment : 
In an experiment, graduate business students who studied a fictional retailer’s finances valued the company at $25.92 per share if they were told it had an above-average record on such corporate social responsibility issues as labor and the environment, and just $19.14 per share if its performance on those measures was said to be below average .

 But the valuation gap disappeared when the participants were encouraged to think carefully about the company’s CSR, suggesting that the high valuations in the above-average case were “unintentional” and based on emotions.
 “One wants to avoid being overly swayed by” CSR, the researchers say.
Research conducted by a team led by Mark E. Peecher of the University of Illinois at Urbana-Champaign
SOURCE: Corporate social responsibility has subconscious effect on investors, study finds

Why We Hate to Give the Same Gift to Multiple People

December 16, 2013

Why We Hate to Give the Same Gift to Multiple People

In an experiment, a majority of people with two gift options gave each of two recipients different gifts, even though one of the presents was clearly less appealing than the other and the giftees had no way of comparing them. People persist in giving different gifts to different recipients in an attempt to be thoughtful by treating each person as a unique individual, write Mary Steffel of the University of Cincinnati and Robyn A. LeBoeuf of the University of Florida. The effect was attenuated when givers were encouraged to focus more on what the recipients would really like.

SOURCE: Overindividuation in Gift Giving: Shopping for Multiple Recipients Leads Givers to Choose Unique but Less Preferred Gifts

Blue-State Firms Are Harmed by Their Greater Spending on Social Responsibility

January 09, 2014

Blue-State Firms Are Harmed by Their Greater Spending on Social Responsibility

U.S. corporations that lean Democratic—that have Democratic rather than Republican founders, CEOs, and directors and are based in blue states—spend $20 million more annually than Republican-leaning companies on corporate social responsibility initiatives, a gap that represents about 10% of net income, say Alberta Di Giuli of ESCP Europe in France and Leonard Kostovetsky of the University of Rochester. But high-CSR firms risk harming their long-term value: Greater CSR expenditures don’t lead to increased sales, and instead are associated with declines in return on assets and lower subsequent stock returns, the researchers say.

SOURCE: Are red or blue companies more likely to go green? Politics and corporate social responsibility.

How Customers Can Help Streamline Your Business

December 19, 2013

How Customers Can Help Streamline Your Business

Customers appreciate simplicity, but figuring out how to streamline can be difficult for many companies. Research has found the most important factor in creating customer “stickiness” is “decision simplicity,” i.e., the ease of getting credible information in the midst of marketing noise. Engage your customers in simplifying your business — and make it easier for them to work with you — with these tips.

(1) Figure out what your customers do all day. 
What do they think about first in the morning? What’s the toughest part of their day? Try giving your customers a diary to track their activities, or spend a day shadowing a customer, to understand their unmet needs.

(2) Listen to your critics. 
Consider asking non-customers why they don’t do business with you. Intentionally including people who dislike your product or service in a focus group can lead to more provocative conversations. Better yet, invite naysayers to join planning meetings to discuss which enhancements could change their perception of your organization.


Adapted from “Let Your Customers Streamline Your Business” by Ron Ashkenas and Lisa Bodell.

How to Say No to a Reference Request

January 09, 2014

How to Say No to a Reference Request

Saying “no” is rarely easy, but if you’re asked for a reference letter you have no interest in writing, or can’t in good conscience provide, use these tips to decline:
If you don’t know the requester well enough, decline in the other person’s best interests: “I wish I could help, but I don’t think I know you well enough to provide as strong a reference as you deserve. I think you’ll be better served with someone else who knows your work style/product/ethic better.”
If you simply can’t provide a good reference, bow out. Tell the requester that the letter of reference you’d provide likely wouldn’t reach the level of praise he’s shooting for. This makes for a tough conversation but shows that you have his best interests at heart.


Adapted from “Three Ways to Say No to a Reference Request” by Jodi Glickman.

The Three M’s that Motivate Employees

December 20, 2013

The Three M’s that Motivate Employees

Smart leaders can turn change from exhausting to exhilarating by asking employees to open their imaginations. This type of strong work motivation stems from the three M’s: mastery, membership, and meaning. (Money is a distant fourth.)

(1) Mastery. 
Help people develop DEEP skills. Even in the most seemingly routine areas, when people are given stretch goals and difficult problems to tackle, they can do things faster, smarter, and better.

(2) Membership. 
Foster community by honoring individuality and encouraging employees to bring outside interests to work. Create frequent opportunities to meet people across the organization to help your team get to know one another more deeply.

(3) Meaning.
 Reinforcing a larger mission and purpose can make even mundane tasks feel significant. Discussing how your products or services can improve the world affects employees’ priorities and decisions.


Adapted from “Three Things that Actually Motivate Employees” by Rosabeth Moss Kanter.

cloud computing has made start-up , a less risky , less expensive proposition

December 20, 2013

It’s a Good Thing You Waited Until Now to Found Your Start-up

Cloud computing and other tech developments have drastically cut the cost of founding a company, says Stanford University finance professor Ilya Strebulaev. The new technologies have reduced the expense of building high-tech start-ups by a factor of 10, a development that has opened up the start-up world to angel investors as never before. Angels, who tend to prefer small deals, are enjoying a growing competitive advantage over traditional venture-capital firms and now supply the overwhelming majority of high-growth start-ups with their first money (after the founders have tapped family and friends), Strebulaev says.

SOURCE: Ilya Strebulaev: Are Angel Investors the New Disruptors?

What Would an Economist Give to Be Published? ( Thumb ? )

December 23, 2013

What Would an Economist Give to Be Published?

Having heard an economist lament that he would give his “right arm” to be published in the prestigious American Economic Review, a team led by Arthur E. Attema of Erasmus University Rotterdam in The Netherlands set out to discover whether his colleagues would indeed sacrifice a limb for publication. The team asked, essentially, by how many years the economists would be willing to shorten their lifetimes in exchange for publication in the journal, then compared that with the participants’ answers to how many additional years they would accept in exchange for losing the thumb of their writing hand. Results from the 85 respondents imply that they would sacrifice more than half a thumb for an AER publication. At least one economist refused to answer on the grounds that the questions were ridiculous.

SOURCE: Your Right Arm for a Publication in AER?

For Innovation, Invest in Two Kinds of Education

December 25, 2013

For Innovation, Invest in Two Kinds of Education

An ever-increasing number of suppliers provide products and services to help companies be more creative, collaborative, and inventive. 
But the roots of a company’s innovation capacity are simple: its talent pool and its commitment to building knowledge and competencies. 

Managers must invest in two kinds of education to make this work. 
First, they need to ensure that the professionals they employ are CURRENT in their fields. Every discipline is experiencing accelerated development — the downside of which is rapid knowledge obsolescence ! 

 Second, organizations should train their people specifically in the innovation skills needed to bring potentially valuable ideas to fruition. This competency is not innate, but can be learned. 
Developing innovation skills requires mastering some fundamentals through repetition. Such training is rarely available in science and technology programs, so educate your talent pool accordingly.

Adapted from “If You Want Innovation, You Have to Invest in People” by Mehran Mehregany.

Does Taking Paternity Leave Give Men a Longer Life?

January 08, 2014

Does Taking Paternity Leave Give Men a Longer Life?

Men who take time off from work to care for their children live longer than other men, sociologist Scott Coltrane writes in The Atlantic. According to a study in Sweden, fathers who took paternity leave in 1978 and 1979 had a 16% decreased death risk by 2001; those who took the longest leaves had the greatest benefits. The study says increased involvement in parenting may reduce some of the detrimental effects of traditional masculinity on men’s health behaviors.

SOURCE: The Risky Business of Paternity Leave

Wage Inequality Rises in Europe as Workplaces Become " Americanized "

December 11, 2013
Compensation Research Fact 

Wage Inequality Rises in Europe as Workplaces Become " Americanized " 
Reasons ? 
(a) As European countries have tried to restore competitiveness,  
(b) the decline of unions and 
(c) the easing of worker protections such as restrictions on dismissals have helped “Americanize” workplaces there, says The New York Times. 

One consequence has been an increase in wage disparity ! 

 In Germany, for example, the richest 10% of people earned 26% of the nation’s income in 1991; by 2010 they took in 31%. 
Over the same period, the proportion of the nation’s income earned by the bottom half of the population fell from 22% to 17%.
SOURCE: Americanized Labor Policy Is Spreading in Europe
Courtesy : Harvard Business Review 

Simplicity Is Key to Both Managing People and Building Products

December 06, 2013

Simplicity Is Key to Both Managing People and Building Products

The technology industry was built on amazing products, but many principles of product development correlate to smart management principles. Successful product managers know that customers respond best to simplicity, when the only features available are ones they want. Otherwise, complexity will creep in and cloud your offering.

 For example, between 1984 and 2003, Microsoft Word went from 40 features to more than 1,500—and many overwhelmed users turned to simpler alternatives. Simplicity is also a feature of great management.

 Employees in flat organizations are empowered to gather insights and pursue ideas, but they’re also overwhelmed by choices: how to prioritize their days, whether to go to a particular meeting, which emails to read. To be a superior manager, simplify. 

Draw a clear mission for your team, articulate group goals, and get out of the way to enable your people to make day-to-day decisions.

Adapted from “Can Building Great Products Help You Build Great Teams?” by Deep Nishar

Overcome Executive Isolation

December 10, 2013

Overcome Executive Isolation

In many large organizations, senior executives are surrounded by assistants, chiefs of staff, and advisors. The purpose of this entourage is to leverage the leader’s time—but, intentionally or not, too many executives receive only news and opinions that have been filtered, orchestrated, or even censored to include what the “senior circle” thinks they should hear. 

As an executive, breaking through this pattern isn’t easy, but trying these tips—and urging your staff to do the same—may help.

Create “listening posts” or hold meetings with managers from other parts of the company to hear unvarnished views and engage in more spontaneous dialogue.
Lead open “town meetings” where employees of all levels are encouraged to speak out.

Hold skip-level meetings or drop in on your organization’s leadership development classes to connect with rising stars you may not have met.


Adapted from “The Problem with Executive Isolation,” by Ron Ashkenas.

A Tip for Keynote Speakers and Pubic Speakers

A Tip for Keynote Speakers and Pubic Speakers 
Plan Ahead for a Strong First Impression

If you’re lucky, you may achieve enough recognition that your reputation always precedes you—but until then, some people won’t have a clue about what you can offer. Ensure new contacts are aware of your expertise by sending a letter of introduction before a meeting: “I’m looking forward to speaking with you about topic X. My background regarding X is as follows...” This establishes your authority before you step in the room—a strategic move, because the same information conveyed face-to-face can seem boastful. After the meeting, if you suspect your audience hasn’t fully grasped your potential, don’t push it: Recognize that they’ll need to discover your value for themselves. If the relationship is worth cultivating, keep in touch with periodic updates about your progress (“just thinking of you, since I recently spoke at the XYZ conference”).
Courtesy : Harvard Business Review

Plan Ahead for a Strong First Impression

December 09, 2013

Plan Ahead for a Strong First Impression

If you’re lucky, you may achieve enough recognition that your reputation always precedes you—but until then, some people won’t have a clue about what you can offer. 
Ensure new contacts are aware of your expertise by sending a letter of introduction before a meeting: “I’m looking forward to speaking with you about topic X. My background regarding X is as follows...” This establishes your authority before you step in the room—a strategic move, because the same information conveyed face-to-face can seem boastful. After the meeting, if you suspect your audience hasn’t fully grasped your potential, don’t push it: Recognize that they’ll need to discover your value for themselves. If the relationship is worth cultivating, keep in touch with periodic updates about your progress (“just thinking of you, since I recently spoke at the XYZ conference”).

Adapted from “Don’t Let Them Underestimate You” by Dorie Clark

Stories of corrupt postmen in poor countries

December 09, 2013

Pilferage from Mail Remains Significant Problem in Emerging Countries

One of the developmental barriers faced by emerging economies is the unreliability of local mail. For example, a team led by Marco Castillo of George Mason University discovered that more than 18% of envelopes sent from the United States to households in Lima, Peru, didn’t arrive at their destinations, and envelopes containing money were 50% more likely to be “lost” than others. “Clearly, those who handle the mail are looking for clues that might suggest that an envelope holds something of value,” the researchers say.

SOURCE: Lost in the Mail: A Field Experiment on Crime

CEOs Appear to Have Little Faith in Their own Companies’ Acquisitions !

December 10, 2013

Business Fact 
CEOs Appear to Have Little Faith in Their own  Companies’ Acquisitions !! 

Reasearch Data : 
CEOs are 23.5% more likely to sell shares of their companies’ stock shortly after announcing acquisitions of other firms, a finding that suggests the executives have little faith in the value of the acquisitions,“It wouldn’t make much sense” for CEOs to sell stock “if they TRULY felt that the company’s stock was going to appreciate,” Devers says of her research, which analyzed data involving more than 2,000 publicly traded firms over a 12-year period.

Research Conducted by:   a team led by Cynthia Devers of Michigan State University. 
SOURCE: CEOs lack belief in their own corporate acquisitions, study suggests

Pursue Tough Criticism to Advance Your Career

December 11, 2013

Pursue Tough Criticism to Advance Your Career

Getting compliments and kindly advice feels nice but won’t get you far ! 
An appetite for the brutal truth, on the other hand, can draw potential sponsors who might help further your career ! 

A capacity to handle withering, harsh  criticism and difficult news demonstrates that you can be trusted to confront rather than shirk the tough stuff—the ultimate test of a leader. 
If you seek out criticism from your superiors, they will find it easy to level with you, rely on you for their highest-profile assignments, and take you on as a protégé. 

Demonstrate your leadership abilities by asking for 'unvarnished'  feedback and welcoming tough guidance. 

Sponsors will point out painful shortcomings—skill gaps, communication failures, appearance blunders—which may be hard to hear, but having the unspoken articulated can help you lever yourself into contention for top slots, steering you toward success.

Adapted from Forget a Mentor, Find a Sponsor, by Sylvia Ann Hewlett.

Use a Stealth Project to Prove a Business Need

December 16, 2013

Use a Stealth Project to Prove a Business Need

Sometimes you have a great idea for a new product feature or an innovative way to serve your customers, but you don’t have the data to back it up. Try demonstrating the importance of your idea by doing a “stealth” project as proof of concept. Run a small pilot project to test your hypothesis about the need. There are risks to this approach, of course. You might annoy people, for example, particularly if you’re spending funds meant for other projects. Keep your project lean and focused—and frame it as a fact-finding experiment. Know what you want to learn, and spend only as much money as it takes to do that. Get your answer, and get out. You may discover that the business need isn’t so great after all—so be prepared to abandon your idea.

Adapted from the HBR Guide to Building Your Business Case eBook + Tools.

December 13, 2013

For Your Online Presence, Think Beyond the Resume

LinkedIn is the standard place to present your professional history and credentials, but it does have limitations. You have to fit your career story into the structure of a profile, with minimal control over formatting. Consider creating a targeted page to craft a more strategic online presence. For example:
If you do a lot of speaking or conference submissions, create a speaking profile on a directory like ExpertFile, a nameplate site like about.me, or even Slideshare.
If you offer services as an independent contractor, a landing page for your contract work can be an efficient place to send potential clients. You can introduce them to a portfolio of your past work and provide links where necessary.
If you write books, blogs, or publications, an author profile on Amazon or a web presence for your book will serve you well. A freelancer’s profile on a writing marketplace like MediaBistro can win you new writing assignments.

Ask for Direction with Work Overload

December 12, 2013

Ask for Direction with Work Overload

No matter how effective you are, you can’t fit 100 hours of work into 40 or even 60 hours a week. Rather than letting a vague sense of fear drive your decisions, take an objective approach. Gather your facts: a concise list of projects, an estimate of how long each task will take, and a visual to show the incongruence between the available time and the requested activities. This visual can be as simple as a printout of your weekly calendar or as complex as a full-scale project plan. Then ask for a strategic planning session with the people who are asking for the most work from you. Discuss which tasks might be delegated or simplified so that you can invest more time in the highest priorities. When done in this manner, asking for direction can lead to a joint effort to prioritize and work within the reality of your schedule.

Adapted from “Stop Work Overload By Setting These Boundaries” by Elizabeth Grace Saunders.

Taking Over from an Incompetent Team Leader

January 08, 2014

Taking Over from an Incompetent Team Leader

Becoming the leader of an existing team can be challenging, but taking over from an incompetent leader is especially difficult. Even if you find your new team in disarray, you’ll get better results from your team members if you invest the time to appreciate and respond to their needs and concerns before making changes. 

By understanding what they have experienced, you’ll better understand the issues that must be addressed to move forward—and your curiosity will show your interest in your people’s well-being, another value that may have been lacking in the previous leader.

Adapted from “Taking Over from an Incompetent Team Leader” by Roger Schwarz.

December 26, 2013

Beware Starting a Company with Your Business School Pals

Sure, some B-school partnerships work, but for every successful startup there are hundreds more that quietly combust. Consider these common pitfalls before starting a business with a B-school friend:

Sharing the same work history. Many MBA students have experience in investment banking, private equity, or consulting, but a successful start-up requires professionals with entirely different kinds of perspectives and expertise — for example, a technologist with the technical skill to build a worthwhile product, and a product person with a solid handle on entering the market.

Not sharing the same values. It’s tempting to assume you hold similar values as your friends, but unless you’re asking each other very tough, pointed questions, each of your values may be unknown — and there is no more fertile ground for conflict than a fundamental mismatch of values.


Adapted from “ Don't Start a Company with Your Business School Pals” by Michael Fertik.

Find 3 career sponsors for yourself

December 30, 2013

Diversify Your Network of Sponsors with the 2+1 Rule

A powerful sponsor can help you keep the job you have or help you find a new one. But in an uncertain job market, executives who count on one high-level backer may unexpectedly find themselves in a tough spot if their sponsor jumps ship. In sponsorship, as in investments, it’s wise to diversify your portfolio of assets: cultivate more than one sponsor. 

Your sponsors should be independent of each other; if one goes down, the others won’t be dragged along. Having three sponsors is ideal: in organizations with fewer than 10 people, pursue one sponsor within the firm and two outside of it in the same industry; in larger firms, you’ll want one outsider and two insiders — one in your line of sight and one in a different department or division. This “2+1 Rule” gives you a better chance of surviving a threat to your department, your division, or even your firm.

Adapted from “To Diversify Your Network, Follow the 2+1 Rule” by Sylvia Ann Hewlett.

Students Get Lower Grades in Online Courses

December 26, 2013

Students Get Lower Grades in Online Courses

Although students who take online courses in community colleges tend to be better prepared and more motivated than their classmates, a study by Di Xu and Shanna Smith Jaggars of Columbia University shows that 

the online format has a significant negative impact on students’ persistence in sticking with courses and on their course grades.

 For the typical student, taking a course online rather than in person would decrease his or her likelihood of course persistence by 7 percentage points, and if the student continued to the end of the course, would lower his or her final grade by more than 0.3 points on a 4-point scale. 

Before expanding online courses, colleges need to improve students’ time-management and independent-learning skills, the researchers say.

SOURCE: The impact of online learning on students’ course outcomes: Evidence from a large community and technical college system

To Manage Well, Get Out of the Way

December 27, 2013

To Manage Well, Get Out of the Way

Management, like payroll and sales, is becoming another function to facilitate the work of the technically and creatively skilled people who do the heavy lifting. We need managers, not because people need a boss, but because people need someone to resolve the issues that are stopping them from doing their work. Managers aren’t ball carriers. They’re running interference for the ball carriers. 

In the world of minimally invasive management, managers have three primary jobs: they need to hire, they need to develop and serve their people, and they need to fire. But most of the time, managers need to get out of the way and let people do their work.

Adapted from “Be a Minimally Invasive Manager” by Randy Komisar.

Road Test Your Business Case Before Presenting It

January 06, 2014

Road Test Your Business Case Before Presenting It

After you’ve put the hard work into developing a business case for a new product or initiative, don’t make the mistake of presenting it cold. It’s better to share it beforehand with a few people who will be evaluating it. 
You’ll want allies in the room when tough questions come up. Give individuals on the review committee a preview and ask about their concerns. 
Get feedback from as many people as you can — you want to know where they stand, especially on new projects that are out of the ordinary for your company.
 Of course, you’ll need to adjust your content in response to what you hear. You may drop some features, for example, or tweak a few numbers. But then let your stakeholders know you’ve made changes to allay their concerns so they can give the project their support at the review meeting.

Adapted from the HBR Guide to Building Your Business Case eBook + Tools.

It’s Actually Helpful to Criticize Ideas When You’re Brainstorming !

12 Sept 2019 Tnu 
It’s Actually Helpful to Criticize Ideas When You’re Brainstorming ! 

You’ve probably heard that when you’re brainstorming, criticizing others’ ideas will kill creativity and enthusiasm. But the truth is, when done right, criticism can encourage collaboration and help your team get to better ideas. Here’s how.

 If you see a weakness in something a colleague has proposed, don’t simply say, “This will never work.”
 Acknowledge their idea, explain the problem with it, and then propose an improvement. 
Someone else should do the same for your suggestion, and then another colleague should do the same for theirs.

 Similarly, when you like someone’s idea, don’t just say, “Great suggestion!” and take it as-is. Look for ways to collectively build on the idea and make it even better. This kind of constructive interaction can create a deep cycle of critical feedback that leads to breakthroughs. That’s why you’re brainstorming, after all — to get to great ideas together.
This tip is adapted from “Why Criticism Is Good for Creativity,” by Roberto Verganti and Don Norman

Is It Time to Stop Deliberating and Just Make a Decision?

11 Sept 2019 Wed 
Management Tip - 4 steps in Decision Making . 

Is It Time to Stop Deliberating and Just Make a Decision?

Waiting too long to make decisions can slow down companies, frustrate employees, and lead to missed opportunities. 
But it can be hard to know whether you should just go ahead and choose or gather more data first. 

In these situations, consider two factors. 

(1) First, how important is the decision? 
When it’s of little consequence, decide on something and move on ! 
 When it’s truly important, reflecting more or gathering additional information is probably a good idea ! 

(2)  Second, how OFTEN  will that particular decision be made?
 If it will happen often — maybe it’s about pricing, inventory, or hiring — it may be worth developing a SYSTEMATIC approach. Doing so will take time now, but you’ll save time when the decision comes up again.

(3)  And if you’re still struggling, give yourself a deadline, which can be a helpful way to constrain your process. (You may not have time to gather more data, for example.) 

(4) Once you’ve made the decision, analyze the PROCESS  you used so that you can improve it next time ! 
This tip is adapted from “When to Stop Deliberating and Just Make a Decision,” by Thomas H. Davenport

Embrace Constructive Conflict !

January 07, 2014
Management Tip on Conflict Management ( not resolution ! ) 

Embrace Constructive Conflict ! 

Finding the right balance between the NEED to deal with conflict and the INSTINCT  to avoid it is one of the toughest challenges that managers face ! 

While unbridled conflict can create a toxic atmosphere, insufficient conflict can be just as damaging ! 

Creative ideas and better ways of getting things done – which help organizations advance – often stem from constructive conflict ! 

How to create it and manage it  ?

Encourage constructive conflict by reinforcing the notion that 
people can DISAGREE  about (a) ideas and strategies, (b) practices and processes, but still RESPECT and like each other ! 
It’s not personal, it’s business ! 

Rather than leaving it to chance, schedule time with your team to question norms and change the way things are done. If someone pushes back or raises an uncomfortable question in a meeting, back them up rather than shutting them down. If possible, make those moments TEACHABLE  and encourage others to do the same ! 

Adapted from “Nice Managers Embrace Conflict, Too” by Ron Ashkenas and Lisa Bodell.

Being " Underwater " on Your Mortgage Reduces Your Earnings

January 07, 2014

Economic Fact 
Being " Underwater " on Your Mortgage Reduces Your Earnings ! 
USA example : 
Why has wage growth been anemic in the current U.S. economic recovery, despite strong productivity gains? 
One reason may be that many homeowners have owed their banks - MORE  than their homes are worth, and being underwater on a mortgage depresses earnings  .

 Specifically, having mortgage debt that EXCEEDS  the home price lowers one’s current earnings by 3.7% . 
Reason ? 
Apparently because underwater homeowners accept lower wages to avoid job loss, which could lead to mortgage default.
Research conducted by : 
SOURCE: Negative equity and wages

Building a Client Base When You’re a New Coach

06 Sept 2019 Fri 
Building a Client Base When You’re a New Coach

Starting a coaching practice can be an exciting career move, but to make it a sustainable business, you’ll need to build a roster of clients. When you’re starting out, don’t dismiss low-paid or even unpaid work that builds your credibility and connections. If you’re asked to speak for a small honorarium or coach someone at a discount, for example, think carefully before you say no. Those experiences may help you get future work, especially if they’re with highly regarded organizations. And don’t be shy about reaching out to your network to land early clients. Tell people that you’re looking for referrals — but don’t pressure them or put them on the spot. For instance, your message might say, “I recently started a new business to coach people on [insert the topic you focus on]. If you happen to know anyone who might be a fit for that, I’m always looking for great clients to work with.”

This tip is adapted from “3 Reasons New Coaches and Consultants Fail,” by Dorie Clark

4 Ways for Coaches and Consultants to Price Their Services

26 Sept 2019 Thu 
4 Ways for Coaches and Consultants to Price Their Services

There are many ways for coaches and consultants to price their services. 
(1) The simplest is to bill hourly, which is useful when you don’t know how long a project will take. 
But there are drawbacks, such as the record keeping and level of scrutiny it invites. (“Why did this take eight hours instead of five?”) 

(2) Once you’ve built trust with a client, a better method is to use a " monthly retainer" : a flat fee for access to you. 
The risk is that clients may feel they OWN you and try to monopolize your time ! 

(3)  If you offer set services — say, half-day strategy sessions or six-month coaching engagements — another option is to charge a flat fee for each of them. T
hat way clients know exactly what they’re getting and what it will cost. 

(4) You could also try a pay-for-results model, in which you make nothing unless your client improves. Yes, it’s risky, but if you’re confident in your process, you can usually charge a premium.

This tip is adapted from “A Short Guide to Pricing Your Services as a Consultant or Coach,” by Dorie Clark et al.

If You Were a Poor Performer, You Wouldn’t Be Aware of It !!!

January 03, 2014

Leadership / Management Tip 

If You Were a Poor Performer, You Wouldn’t Be Aware of It !!! 

If you are aware of it , you would have DONE SOMETHING about it ! 

( Such employees need a lot of unpalatable , unpleasant  feedback !  ) 

The Experiment 
In a logic test administered to people who had volunteered over the internet, a team of researchers found that the LOWEST  scorers VASTLY  OVER-ESTIMATED their performance ! 
They believed on average, that they had gotten 7 out of 10 items right ( before the actual results were shown to them ! ) when the actual figure was ZERO ! 

Underlying reason : 
 People who lack the skill to perform well ALSO  tend to lack the ability to judge THEIR OWN  performance !!  
They tend to over estimate their own abilities vis-a-vis their job challenges ! 
Because of this “dual curse,” they fail to recognize how incompetent they truly are !! 
But thankfully , skills aren’t set in stone !! Teaching poor performers to solve LOGIC  problems causes them to see their own errors and REDUCE  their PREVIOUS  estimates of their performance.

Research conducted by : , according to Thomas Schlösser of the University of Cologne in Germany
SOURCE: How unaware are the unskilled?
 Empirical tests of the signal extraction counterexplanation for the " Dunning–Kruger effect"  in self-evaluation of performance
Courtesy : Harvard Business Review . 
Action Steps : 
Net Search on : " Dunning-Kruger Effect " and 
" Dunning-Kruger Effect " in self evaluation of performance . 

Three Ways Introverts Can Build Their Personal Brands

December 31, 2013

Three Ways Introverts Can Build Their Personal Brands

While many ways to establish your brand are weighted toward extroverts — taking leadership roles in professional associations, starting a conference, or embracing public speaking, for example — introverts, too, can build connections and develop their personal brands while respecting their natural tendencies.

(1) Social media. 
This is an area where introverts, who thrive on quiet contemplation, have an advantage.
 By writing a blog, for example, you can take time to formulate your thoughts and engage in real dialogue on social networks around the strength of your ideas.

(2) One-on-one connections.
 If you’re more comfortable socializing one-on-one than in bigger groups, become a connector one person at a time. Ask a new person from a different office or department to lunch once a week, and you’ll build a robust network on your own terms.

(3) Subtle cues. 
Small things can establish your personal brand without a word: simply placing diplomas or awards on your office walls can reinforce your expertise to others.


Adapted from “Personal Branding for Introverts” by Dorie Clark.

Higher risk tolerance may lead to lower risk adjusted returns - research

January 13, 2014

Research Fact : 
Risk Lovers Are More Likely to Start Businesses, and to Fail in the Attempt ! 

The Experiment 
To test the hypothesis that  - people who are more tolerant of risk are more likely to become entrepreneurs—and to perform more poorly in that role— researchers  examined investment data for 400,000 people in Norway. 

Results of experiment 
They found that those who invested in stocks, which are riskier than government bonds or savings accounts, are 50% more likely to subsequently become majority owners in new firms. 

And firms started by these stock investors have 25% lower sales and 15% lower return on assets than firms founded by people who are less tolerant of risk ! 
Reason ? 
Probably because individuals who are tolerant of risk are willing to accept lower expected entrepreneurial returns for a given level of risk, the researchers say.
Research conducted by : Hans K. Hvide of the University of Bergen in Norway and Georgios A. Panos of the University of Stirling in the UK . 
SOURCE: Risk Tolerance and Entrepreneurship

Update Your Job Search for 2014

January 01, 2014

Update Your Job Search for 2014

While many of us have been hunkered down waiting for the recession to pass, the job market has been changing. To succeed in a transformed job market, know what you’re really worth. Research the salary you can realistically command — it may, unfortunately, be less than you expect. (The recession led to little or no increase in pay; there was actually wage deflation during this period.) Helpful resources are PayScale and Glassdoor. If you want to be sure, ask a headhunter or talk to people in your professional association. Next, make sure you’re not using old-fashioned search techniques. In the last five years, job boards have been going the way of newspaper ads. Now, recruiters proactively use social media to identify potential candidates instead of waiting for resumes to come in. If you don’t have a social media presence — on LinkedIn, Twitter, or your own website — you may not get noticed.

Adapted from "Update Your Job Search" by Priscilla Claman.

What to Do When Communication Styles Don’t Match

January 02, 2014

What to Do When Communication Styles Don’t Match

When good communicators fail to actually hear each other, it’s often due to a mismatch of styles: to someone who prefers to vent, someone who prefers to explain seems patronizing; explainers view venters as volatile. 
Remember that your conversational partners do have something important to tell you – even if they’re not communicating it well. 

While they talk, focus on their left eye. Remain patient. 

After they finish talking, say to a venter, “I can see you’re really frustrated”; 
to an explainer, say, “I can see that you really had a lot that you had to say.” 

Then continue, with either type of communicator, to reframe the conversation by defining practical long-term, short-term, and ASAP follow-up steps. Handling the conversation this way will enable you to remain cool, calm, collected, and communicative.

Adapted from “How to Listen When Your Communication Styles Don’t Match” by Mark Goulston.

Embrace the Power of Restraint

January 03, 2014

Embrace the Power of Restraint

Extroverted behavior can be more effective in business when it’s infused with restraint. To practice more restraint, and stay focused on the things that really matter, try these methods:

(1) Delegate, don’t command and control. 
Effective leaders understand how to motivate with just enough direction that their people feel a true sense of ownership. Micromanagement occurs when your desire to act overwhelms the need to lead.

(2) Consider quality over quantity of voice. 
We all know the rare individual who does not talk often, but when she does, everyone listens. There is tremendous power in increasing one’s listen-to-talk ratio and choosing the right moments for expression.

(3) Always leave them wanting more. 
Consider cutting your meeting time by around 20–30% to make sure you focus on the right things first, and to understand that your goal may be to have them wish for more time, or be motivated to follow up.


Adapted from “The Power of Restraint: Always Leave Them Wanting More” by Anthony K. Tjan.

Get More from Millennials with Mentoring

January 16, 2014

Get More from Millennials with Mentoring

Gen Y employees are often stereotyped as having unrealistic salary expectations and a poor work ethic, but by understanding how to work with younger employees and creating programs that allow them to network, learn, and feel part of the company, you can help them become your next leaders. Connect Gen Y talent to senior leaders with cross-generational mentoring programs for executive exposure and sponsorship. The young talent pool can support recruiting events, help in product development and marketing initiatives, and discuss new trends and how to leverage the latest technology (most of Gen Y doesn’t know a world without computers). Younger employees will benefit from the training and development, and managers will benefit from an engaged cohort of energetic, driven employees.

Adapted from “You're Probably Wrong About Millennials” by Dan Schawbel.

To Detect a Lie, Don’t Think About It

January 16, 2014

Judgment Tip 
To Detect a Lie, Don’t Think About It
The Experiment : 
Research participants who did puzzles for 3 minutes after hearing a series of " true and false statements"  were about 6 times better than other people at figuring out which of the statements had been lies . 
Reason : 
The finding suggests that ' unconscious thinking (like the kind you do when you’re working a puzzle) ' gives people a chance to integrate the rich, complex information needed for accurate lie detection, and it supports a theory that deception judgments are largely driven by intuitions that may be inaccessible to the conscious mind . 

Research conducted by: A team led by Marc-André Reinhard of the University of Mannheim in Germany. 
SOURCE: Unconscious Processes Improve Lie Detection

Matrix Management Structure - Incentive, Disincentive , motivation , ideal team blend

January 17, 2014

Two Keys to a Successful Virtual Team

Getting team composition right is critical, especially for virtual teams, which are more autonomous than co-located teams. When putting together a virtual team, consider:

(1) Size: 
The best virtual team is a small one—under 10 people. Four or five is ideal. Relatively minor coordination and communication challenges grow exponentially as a virtual team grows, and few things erode trust faster than being left out of important communication. 
Rather than creating a big team, consider keeping the core team small, with advisory groups providing input as needed.

(2) Accountability:
 When virtual teams come together from a range of functions, leaders may lack formal authority over all team members.
 If team members are evaluated on their performance within the line of business they represent, rather than on their contributions or successful collaboration, members may feel a DISINCENTIVE to collaborate ! 
 Instead, establish clear lines of accountability and uniform performance measures at the outset.
Adapted from “To Make Virtual Teams Succeed, Pick the Right Players” by Keith Ferrazzi.

Is There a Gap Between IT and Your Business?

January 21, 2014

Is There a Gap Between IT and Your Business?

In many companies there’s a chasm between information technology (IT) groups and business teams, which don’t always consider IT a major player ! 
 Businesses would be better served by leveraging every byte of knowledge IT can bring.

(1) Give IT a fair chance. 
When a company changes systems, people often blame IT for IMPOSING  something on them ! 
 Or business silos complain that “systems don’t talk,” when the root issue is that siloed departments don’t talk. It’s easy to blame IT, but matters are rarely that simple.

(2) Business teams should ask, “How do we expect IT to help us compete?”
 Critical investment in technology is about building organizational capabilities. 
Few information technologies qualify as strategic — they will likely be out of date in five years — but developing the ability to keep pace with the technology curve must be viewed as a strategic goal.

Adapted from “Bridging the Gap Between IT and Your Business” by Thomas C. Redman and Bill Sweeney.

Saying "No" Is Part of Success

January 24, 2014

Saying "No" Is Part of Success

Success is often built on a reflexive habit of saying “yes” to opportunities that come your way. Eventually, as you succeed, you must prioritize the many opportunities that present themselves, or else you’ll be overwhelmed, overcommitted, and ineffective. These steps can help you say “no” more comfortably:

Slow down. 
Feelings of anxiety generated by the possibility of saying “no” can escalate into an emotional state in which we have diminished capacity to process information and consider options. Slowing down the pace of an interaction or a decision-making process can allow us to catch up and make the choice that’s right for us, not merely the choice that alleviates our anxiety in the moment.

Practice. 
Saying “no” is like any other interpersonal skill — it feels clumsy and awkward at first, and we improve only with repeated effort.


Adapted from “Learning to Say "No" Is Part of Success” by Ed Batista.

Don't look at the fast food ! It will make you less happy !

February 04, 2014

Thoughts of Fast Food Hinder Your Ability to Derive Happiness from Small Pleasures

Research participants who had seen a picture of a fast-food burger and fries subsequently rated themselves less happy upon viewing 10 photographs of natural scenic beauty (4.86, on average, versus 5.45 on a seven-point scale), say Julian House and two colleagues from the University of Toronto. Exposure to the idea of “fast food” makes people more impatient and impairs their ability to derive happiness from pleasurable stimuli; this effect could have a long-term negative effect on people’s experienced happiness, the researchers say.

SOURCE: Too Impatient to Smell the Roses: Exposure to Fast Food Impedes Happiness

Make Conflict Collaborative, Not Combative

February 05, 2014

Make Conflict Collaborative, Not Combative

Shying away from open, healthy conflict about work issues may make you feel like a nice person, but it’s an unproductive habit. Although conflict can be uncomfortable, it is the source of true innovation and a critical process in identifying and mitigating risks. Attention to your delivery can help you can maintain your self-image as a nice person — even in conflict. When dealing with someone who disagrees with you, try these tactics to remain collaborative, not combative:

Express your contrary opinion as an “and,” not a “but.” It’s not necessary for someone else to be wrong for you to be right.

Ask open-ended questions rather than stating conclusions. “How is that going to land with our customers?” feels much less aggressive than “Our customers will be angry.”

Adapted from “Conflict Strategies for Nice People” by Liane Davey

Try This Exercise to Think Like Your Company's Competitors

24 Sept 2019 Tue 
Try This Exercise to Think Like Your Company's Competitors

Sometimes a company’s strengths can quickly turn into weaknesses. For example, a small and seemingly unimportant rival might figure out how to use your firm’s size against you. 

Here’s an exercise to help you look for threats and opportunities where you hadn’t realized they exist. First, divide your employees into two teams. 

Ask Team A to list your company’s strengths and Team B to list its weaknesses. Then have the teams swap lists. Ask Team B to argue that the strengths are actually threats to the organization’s future, and Team A to argue that the weaknesses are opportunities. 

Next, do an external analysis: Ask Team A to list the strengths it sees in your competition, and Team B the weaknesses. Again, have the teams swap lists and make the counterarguments.

 The goal of this exercise is to open your, and your employees’, eyes to new possibilities — and guard against sudden changes that could mean trouble for your company.

Decreasing the Bias in Your Hiring Decisions

04 Sept 2019 Wed 
Decreasing the Bias in Your Hiring Decisions

Human beings are hardwired to prefer people who are like us, which is one reason bias creeps into hiring decisions. 
Diversity initiatives and process audits can help, but for hiring to improve meaningfully, individual managers have to recognize and address their personal biases. 

The first step is to accept that you have biases. Think about why you might feel drawn to some job candidates more than others, and what biases or preferences might be involved. Consider how factors such as race, gender, education, socioeconomic background, and even height might influence you.
 Aim to go into hiring decisions with an awareness of how they might go astray. 
Then, when you’re actually evaluating a candidate, keep asking yourself: “Where could bias show up in this decision?” You should also form your own opinion of the candidate before comparing notes with your colleagues, so you aren’t influenced by others’ views.

After a Career Setback, Reflect on Your Strengths

03 Sept 2019 Tue 

After a Career Setback, Reflect on Your Strengths
Career setbacks happen to everyone. Maybe you didn’t land that job you were vying for, or the promotion you wanted went to someone else.
 But failures and missed opportunities don’t have to derail your career — and they can even propel it forward.
 To move past a setback with confidence, start by acknowledging the pain of being rejected. The physiological response it creates in our minds is akin to physical pain, so don’t dismiss how you are feeling. 
Next, take a step back and assess the situation — and be fair to yourself. Is what happened a reflection on you and your skills, or (as is often the case) were there factors at play that were beyond your control?
 And then make a conscious effort to look toward the future. Spend some time thinking about your strengths and what you love doing. Consider how else you could use your skills — it may be that your next career opportunity will be in an area you haven’t even considered.
This tip is adapted from “Use Failure as an Opportunity to Reflect on Your Strengths,” by Susan Peppercorn

Mentoring basics , choice of a protege

23 Aug 2019 Fri 

When a senior leader sponsors a junior employee, supporting and advocating for them, it’s obvious that the junior person gains a lot. But so does the senior leader. 

A good protégé expands your worldview and helps you fill gaps in your skill set and knowledge — which can lead to tangible benefits such as promotions and stretch assignments. To cultivate this type of sponsoring relationship, seek out a protégé who is a high performer and trustworthy. This person’s reputation will become intertwined with your own, so consider how their actions at work may reflect on you. 

And while protégés don’t have to be young, they should be different from you, perhaps in gender, ethnicity, sexual orientation, professional background, or life experience. Think about where your blind spots are, or what areas you wish you knew more about, and use those insights to inform your decision. 

Also think about what you’re an expert in and who might need that expertise. When managed well, a sponsoring relationship will help both of you rise and thrive.
This tip is adapted from “Want to Be a Better Manager? Get a Protégé,” by Sylvia Ann Hewlett

3 Tips for Having Difficult Conversations Virtually

07 Aug 2019 Wed 
3 Tips for Having Difficult Conversations Virtually

Difficult conversations are hard enough when they happen in person ! 
 When you have to have one virtually — with a remote worker or a boss in another city, for example — you can take a few steps to help the conversation go smoothly. 

(1) First, use a videoconferencing tool, such as Skype, so that eye contact, facial expressions, and tone of voice will be apparent. 
You want the other person to be able to understand both what you’re saying and HOW you’re saying it. 

(2) Second, go somewhere private and quiet for the call, and ask the other person to do the same. 
If possible, make sure neither of you is dealing with any distractions. 

(3) Third, be SPECIFIC about what you’re saying.
 When we’re physically distant from someone, we’re more likely to view them, or the difficult situation, abstractly. That’s why it’s so important to be detailed, whether you’re giving feedback or delivering bad news. 

(4) Making notes before the meeting can ensure that you cover all the points you need to.
This tip is adapted from “How to Have Difficult Conversations Virtually,” by Art Markman